Good morning. Welcome to Axios today. It's Thursday, July 15th. I'm Nailibutu. Here's how we're making you smarter today.

Jamaica demands slavery reparations from Britain. Plus, white trees in the Amazon rainforest are emitting more carbon than they're absorbing.

But first, today's one big thing. The IRS's new monthly cash payments for parents.

Today marks the start of the Biden administration's enhanced child tax credit program, meaning millions of American families consume expect payments deposited into their bank accounts.

What is it? And what do you need to know? Hans Nichols is a political reporter for Axios. Good morning, Hans. Good morning.

So there's a lot of questions here. These are different from stimulus checks. This is an advance.

The top line on this is it it's a lot of new money, especially for families that weren't filing taxes beforehand.

So the White House has been touting this. They've been talking about it at every opportunity because they think this is going to make a serious dent into childhood poverty.

So, you know, the numbers just real quickly about 20 million additional children that didn't get the full credit before because maybe their parents didn't file taxes.

They're now going to maybe have an opportunity to get that now for everyone else and the numbers are big.

We're talking about millions of families. Their income levels it faces out. I think it around 150,000.

But in July, people with families will get 300 up to 300 dollar checks just deposited into their accounts.

And that's something totally different that we haven't really tried in this country.

The political conversation will shift to whether or not this program is going to the end of the year if this will become permanent.

It's too early to say whether Democrats can win the argument to make this more permanent.

You know, maybe, but Democrats understand the stakes on that.

And that is if you get Americans accepting of this idea, it's very difficult to take it away.

The big question is how much further is it going to go and when will Democrats decide to pay for it?

Hans, you're joining us from the hill. The conversations on the hill this week have been about infrastructure.

And who's going to pay for the 3.5 trillion dollar budget?

Well, the plan was always corporations, but what we've learned in the last few hours is that it's corporations that also make drugs,

which is to say pharmaceutical and the pharmaceutical industry.

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